Why Allowing Pets is a Win for Landlords: Insights from a Property Manager

Why Allowing Pets is a Win for Landlords: Insights from a Property Manager

As a property manager, I’ve seen how allowing pets can significantly benefit landlords. While some may worry about the risks, the data shows that embracing pets not only attracts more residents but also boosts revenue and enhances community satisfaction. Here’s why welcoming furry friends isn’t just good for residents — it’s great for your bottom line.

1. Pet-Friendly Properties Attract and Retain Residents

Allowing pets opens up your property to a larger pool of potential renters. According to the American Pet Products Association, 66% of U.S. households own a pet, and nearly 23 million households added a new pet during the pandemic. This growing pet ownership trend means that properties allowing pets are more in demand and can reduce vacancy periods significantly .

Moreover, residents in pet-friendly housing stay an average of 21% longer than those in non-pet-friendly properties. By simply allowing pets, you’re creating a more stable rental environment that reduces turnover costs, including marketing, cleaning, and repairs. Pet-friendly properties are filled faster and often retain residents for extended periods, keeping your units occupied and your income steady .

2. Increased Revenue Through Pet Fees and Higher Rent

Pet-friendly policies can directly boost your revenue. A study found that pet-friendly rentals earn an average of $222 more per month compared to non-pet-friendly units. Additionally, landlords can charge pet deposits ranging from $200 to $500 and monthly pet rents between $25 to $100, all of which contribute to your bottom line without requiring major investments. Renters are generally willing to pay these fees, seeing them as a fair exchange for keeping their beloved pets close .

3. Improved Community Atmosphere and Resident Satisfaction

Pets aren’t just good for filling vacancies — they also enhance the community atmosphere. Studies have shown that pet-friendly properties foster a sense of connection among residents, leading to a more vibrant and cohesive community. Pets help break the ice, whether it’s at the dog park or in the hallway, promoting social interactions that make your property feel more like a home than just a place to live .

4. A Competitive Edge in the Rental Market

In today’s competitive rental market, pet-friendly properties stand out. According to the National Association of Realtors, 43% of pet owners would be willing to move to accommodate their pets, making pet-friendly units highly desirable. Properties that allow pets receive up to 13% more views on platforms like Zillow compared to those that don’t, giving you a distinct advantage in attracting new residents .

5. Managing Risks: Policies That Work

One common concern is the potential damage caused by pets. However, with the right pet policies in place — such as requiring pet insurance, screening pets for behavior, and setting clear guidelines — you can mitigate these risks effectively. In fact, 65% of property managers report no significant difference in damage between pet-friendly and non-pet-friendly units. Implementing structured pet agreements can also help manage expectations and reduce liability, ensuring that both the landlord and residents are protected .

The Bottom Line: Pets Are Good Business

Allowing pets in your rentals isn’t just about being kind to animals — it’s a smart business decision. From higher rents and faster occupancy rates to improved resident satisfaction and longer tenancies, the benefits far outweigh the risks. As a property manager, I’ve seen the positive impact firsthand, and it’s clear that letting in those wagging tails can lead to significant financial gains.

Enjoyed this perspective on the benefits of pet-friendly properties? Stay tuned for more insights by subscribing here and on Medium. Let’s keep the conversation going — pets included!